THE head of a Southport security firm that collapsed owing #116,000 has agreed to a four-year ban as a company boss.

Derek James Mason, 40, of The Pastures, Southport, was a director with security firm and debt recovery agency IGM Security in Upper Aughton Road, Southport.

It was placed into voluntary liquidation in December, 1999 owing creditors #116,371.

Among the "matters of unfit conduct" levelled at Mr Mason were that at least #53,405 due to government departments, particularly the Inland Revenue, was withheld.

He also paid for a former IGM director's shares from company funds after agreeing to buy them personally and allowed company debts from staff fuel cards and rail warrants to mount while IGM was insolvent.

Courts can disqualify directors for between two and 15 years for unfit conduct, but directors who accept that their conduct is unfit can give an undertaking not to act as a director for an agreed period.